Netflix Overtakes Disney as the most valuable Media Company

On Thursday, online streaming Service Company Netflix surpassed Disney to become the most valuable media firm. Netflix’s stocks have risen 70% since January this year, and now it is valued at $162 billion whereas Disney is valued at $151.6 billion.

Netflix Overtakes Disney as the most valuable Media Company

On Thursday, online streaming Service Company Netflix surpassed Disney to become the most valuable media firm. Netflix’s stocks have risen 70% since January this year, and now it is valued at $162 billion whereas Disney is valued at $151.6 billion. Netflix shares jumped energetically on Thursday morning trading and by 12.15pm local time in New York, the stock was up 1.9%, to an all-time high of $351.09 per share. That gave the company a market capitalization of nearly $162billion.

Netflix was founded in 2002 and since then the share price has surged 33,000 %, Netflix currently has 125 million paying subscribers for its streaming service and has created an assembly line of original programming. Netflix is spending heavily on its content in order to drive subscriber growth around the world and fend off competition from the likes of Disney, Amazon.com Inc and Hulu.

It is legit that Netflix has some of the most powerful content on its service and that is why it is so successful, The success of Netflix’s roster of shows that includes 'The Crown' and 'Stranger Things’ has drawn millions of new subscribers to the streaming service in recent years.

Disney, which owns Marvel, Pixar Animation and "Star Wars," has announced it will start its own streaming service and stop allowing Netflix to broadcast its own movies starting next year. Disney is also trying to expand by buying $52 billion worth of assets from Twenty-First Century Fox.

The Future is expected to hold a strong position for Streaming giant Netflix as it is riding high on news of a multimillion-dollar deal with Barack and Michelle Obama to use their newly created TV production house, Higher Ground Productions, to create shows. The agreement includes both scripted and unscripted series, documentaries and feature films.

“We hope to cultivate and curate the talented, inspiring, creative voices that are able to promote greater empathy and understanding between peoples, and help them share their stories with the entire world,” the former president said earlier this week.

Netflix has also cut recent deals with Shonda Rhimes, who produced Grey’s Anatomy and Scandal, and Glee creator Ryan Murphy.

Netflix and Disney have been wary rivals; the competition for creative talent has also been joined by Apple, Google and Amazon, each pouring billions of dollars into content production